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Tenet Healthcare (THC) Outpaces Stock Market Gains: What You Should Know
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In the latest close session, Tenet Healthcare (THC - Free Report) was up +1.83% at $258.62. The stock outpaced the S&P 500's daily gain of 0.73%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 1.19%.
Shares of the hospital operator have depreciated by 3.61% over the course of the past month, outperforming the Medical sector's loss of 3.74%, and lagging the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's upcoming EPS is projected at $4.59, signifying a 24.05% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.47 billion, up 3.4% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $21.04 per share and revenue of $22.2 billion, indicating changes of +25.39% and +4.18%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Tenet Healthcare is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Tenet Healthcare is at present trading with a Forward P/E ratio of 12.07. This expresses no noticeable deviation compared to the average Forward P/E of 12.07 of its industry.
It's also important to note that THC currently trades at a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Hospital industry had an average PEG ratio of 1.08 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Tenet Healthcare (THC) Outpaces Stock Market Gains: What You Should Know
In the latest close session, Tenet Healthcare (THC - Free Report) was up +1.83% at $258.62. The stock outpaced the S&P 500's daily gain of 0.73%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 1.19%.
Shares of the hospital operator have depreciated by 3.61% over the course of the past month, outperforming the Medical sector's loss of 3.74%, and lagging the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's upcoming EPS is projected at $4.59, signifying a 24.05% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.47 billion, up 3.4% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $21.04 per share and revenue of $22.2 billion, indicating changes of +25.39% and +4.18%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Tenet Healthcare. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% decrease. Tenet Healthcare is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Tenet Healthcare is at present trading with a Forward P/E ratio of 12.07. This expresses no noticeable deviation compared to the average Forward P/E of 12.07 of its industry.
It's also important to note that THC currently trades at a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Hospital industry had an average PEG ratio of 1.08 as trading concluded yesterday.
The Medical - Hospital industry is part of the Medical sector. With its current Zacks Industry Rank of 62, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.